Bitcoin Network Activity Slows Amid ETF Flows

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

Should l Buy IP?

Transaction Volume Shift: According to Glassnode, Bitcoin's daily transactions peaked at 734,000 in 2023-2024 but have since ranged between 320,000 and 500,000 since early 2025, indicating muted base-layer participation despite firm price action.
Active Derivatives Market: Combined open interest in Bitcoin futures and options remains around $96.2 billion, suggesting that the derivatives market is significantly more active than on-chain settlement, reflecting a shift in price discovery to exchanges and leveraged venues.
ETF Fund Flows: US spot Bitcoin ETFs rebounded to +$358.1 million on April 9, even as the Fear & Greed Index held at 16, indicating extreme fear, which shows that demand for Bitcoin persists despite market caution.
Stable Fee Market: The current recommended fee for Bitcoin transactions is 4 sat/vB, and while transaction volumes have decreased, the stability of the fee market suggests that price discovery is still occurring through financial wrappers and leverage rather than reliance on scarce block space.

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Technical Analysis for IP

Technical Sentiment Analysis for Story (IP). As of , Story (IP) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 2 indicators are flashing buy, while 7 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for IP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, IP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Story (IP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.416	0.447	0.477	0.508	0.537	0.569	0.598
Fibonacci	0.447	0.471	0.485	0.508	0.531	0.545	0.569

About IP

What Is Story ($IP)?Story is a Layer 1 (L1) blockchain designed to serve as the foundation for intellectual property (IP) on the internet. It enables creators to register, license, and monetize their IP assets seamlessly. By leveraging blockchain technology, Story provides a transparent and efficient framework for IP attribution, licensing, and commercialization.$IP is the native utility token used for:Paying transaction fees (gas) on the Story blockchain.Registering and validating intellectual property assets (IPAs).Licensing IP assets and obtaining commercial rights.Participating in governance decisions for the Story ecosystem.Staking for network security and validation.Enabling revenue-sharing and royalty distribution for IP owners.Story tools include:Story Explorer – A user interface for discovering registered IP assets.StoryKit – White-label UI tooling for ecosystem developers.IP Hub – A central repository for IP registration and management.Licensing Module – Facilitates permissionless IP licensing and monetization.Dispute Module – Allows for staking-based IP disputes and resolution.How Many $IP Tokens Are There in Circulation?Story has a total supply of 1 billion $IP tokens. The initial circulating supply at launch is expected to be approximately 250,000,000 tokens (25% of total supply).Planned token distribution at launch:Foundation: 5% (may be released in multiple phases)Ecosystem + Community: 10%Initial Incentives: 10%Who Are the Founders of Story?Story was founded by a team of experienced entrepreneurs and engineers with backgrounds in blockchain, AI, and digital media.Where Can I Buy Story ($IP)?$IP is expected to be available on major cryptocurrency exchanges following its Token Generation Event (TGE) in February 2025. The project is in discussions with Coinbase, OKX, and other global exchanges for listing opportunities. More details about exchange listings will be announced closer to the mainnet launch.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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